OMERS ADMINISTRATION Corp Takes $1.63 Million Position in Casey’s General Stores, Inc. $CASY

OMERS ADMINISTRATION Corp purchased a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,237 shares of the company’s stock, valued at approximately $1,628,000.

A number of other institutional investors have also made changes to their positions in CASY. Northwestern Mutual Wealth Management Co. lifted its stake in Casey’s General Stores by 179,938.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after buying an additional 2,657,687 shares during the period. Franklin Resources Inc. boosted its holdings in Casey’s General Stores by 40.9% during the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after buying an additional 310,470 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after buying an additional 52,250 shares during the period. Invesco Ltd. increased its stake in shares of Casey’s General Stores by 12.6% in the 4th quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after acquiring an additional 64,154 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Casey’s General Stores in the 4th quarter valued at about $265,163,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Price Performance

Shares of CASY opened at $867.16 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The stock has a 50 day simple moving average of $822.00 and a 200 day simple moving average of $749.60. Casey’s General Stores, Inc. has a 52-week low of $490.00 and a 52-week high of $927.85. The firm has a market capitalization of $32.09 billion, a PE ratio of 45.26, a P/E/G ratio of 2.57 and a beta of 0.62.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period last year, the company posted $2.63 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts predict that Casey’s General Stores, Inc. will post 21.14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. Casey’s General Stores’s payout ratio is currently 11.90%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wolfe Research reiterated an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores in a research report on Thursday, June 11th. BNP Paribas Exane cut their target price on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Capital One Financial assumed coverage on shares of Casey’s General Stores in a report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price target for the company. Finally, Stephens set a $975.00 price objective on shares of Casey’s General Stores and gave the company an “overweight” rating in a research report on Friday, June 12th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $944.20.

Insider Buying and Selling at Casey’s General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chad Michael Frazell sold 3,013 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total value of $2,372,707.37. Following the transaction, the insider owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,243 shares of company stock valued at $24,421,877 over the last quarter. 0.67% of the stock is currently owned by corporate insiders.

Casey’s General Stores Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.